Oral arguments by the owner of the Sears Tower, and QST Energyagainst Commonwealth Edison (ComEd) were heard yesterday by theIllinois Commerce Commission (ICC). Tower Leasing and QST arefighting ComEd’s refusal to allow installation of a cogenerationsystem at the tower that would save tenants an estimated $2 millionor more a year in energy costs. So far, ComEd has refused to allowQST to acquire or lease Edison’s distribution system inside theSears Tower, a prerequisite to installing the cogeneration (seeNGI May 5, 1997).
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Analysts were not surprised by Monday’s announcement that DuPontintends to sell its stake in Conoco. In fact, some wondered whattook the company so long. “That’s something they’ve [talked about]for a long time and they’re finally acting on that,” said CarolFreedenthal of Houston-based Jofree Corp. “I guess they’ve just gotbetter places they can put their money than the oil and gasbusiness.”
The dueling U.S. titans were continuing their battle to be thenew owner of England’s The Energy Group. Texas Utilities said itacquired 36.9 million more Energy Group shares at 840 pence/share,representing about 7.1% of The Energy Group’s issued share capital,and now holds 114.4 million shares, about 21.96% of issued sharecapital. TU had the blessing of U.S. regulators for the shareacquisition.
Viking Voyageur Gas Transmission called on FERC to dismiss ANRPipeline’s latest attacks on its project, saying they were”thinly-veiled” efforts to prevent, or “at least delay for as longas possible,” construction of a pipeline project that would bringsorely-needed competition into ANR’s Wisconsin market area.Voyageur, which would import Canadian gas into several Midwestmarkets, “is a significant threat to ANR’s market dominance inWisconsin. As a result, ANR has made every possible effort tothwart the Commission’s pro-competitive policies by delayingVoyageur’s project,” the proposed pipeline said in comments at theCommission [CP98-65].